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This dissertation consists of three essays on Hedonic price method which is widely used in non-market good evaluation. The first chapter outlines three topics involved and briefly discusses the motivations and methods, as well we some conclusions in each of the following chapters. Chapter 2 uses a conventional first stage hedonic price method to estimate the effect of an aquatic invasive species (Eurasian watermilfoil) on lakefront property values at selected Vermont lakes. Results indicate that as the primary component of total aquatic macrophyte growth in a lake Eurasian watermilfoil significantly and substantially affects lakefront property values. As Eurasian watermilfoil infests a lake, adding to the total macrophyte growth, property values can diminish by

A growing number of hotels provide “green†lodging for travelers with strong environmental preferences. Twelve states have developed certification programs to regulate these claims. After describing the new market for green lodging, we use data on prices and amenities of “green†and “brown†hotels in Virginia to estimate a hedonic model of hotel room pricing. We find that travelers can expect to pay a significant premium for a standard room in a green hotel. An internal meta-analysis is used to evaluate the robustness of this result to subjective econometric modeling decisions. Our results indicate a premium between $9 and $26.

A growing number of hotels provide “green” lodging for travelers with strong environmental preferences. Twelve states have developed certification programs to regulate these claims. After describing the new market for green lodging, we use data on prices and amenities of “green” and “brown” hotels in Virginia to estimate a hedonic model of hotel room pricing. We find that travelers can expect to pay a significant premium for a standard room in a green hotel. An internal meta-analysis is used to evaluate the robustness of this result to subjective econometric modeling decisions. Our results indicate a premium between $9 and $26.